Latest news with #074
IOL News
4 days ago
- Politics
- IOL News
Crowdfunded gift for Lt-Gen Mkhwanazi redirected to SAPS Education Trust
Supporters donated over R44,000 via a BackaBuddy campaign originally intended to 'buy two cows' for Mkhwanazi as a symbol of gratitude. The funds will now be redirected to support the children of fallen officers. Image: Doctor Ngcobo / Independent Newspapers The South African Police Service (SAPS) has confirmed that funds raised in a BackaBuddy campaign to 'buy two cows' for KwaZulu-Natal police commissioner Lt-Gen Nhlanhla Mkhwanazi will be donated to the South African Police Service Education Trust (SAPSET), pending official approval. The crowdfunding campaign was launched by social media users last month as a gesture of appreciation for Mkhwanazi. The campaign exceeded its initial target of R35,000, raising a total of R44,074. It followed Mkhwanazi's explosive allegations of political interference and the shielding of criminals within SAPS. According to Mkhwanazi, senior police officials, including Police Minister Senzo Mchunu who is currently on a special leave - interfered in politically sensitive investigations and orchestrated the disbanding of elite anti-corruption units. He accused Lt-Gen Shadrack Sibiya, deputy national commissioner for crime detection (currently on leave), of colluding with North West information dealer Brown Mogotsi and Mchunu to dismantle the KZN political killings task team. The unit was disbanded in March 2025, effectively suspending 121 active dockets, many of which were linked to politically motivated killings. Mkhwanazi presented WhatsApp messages, SAPS documents and cellphone records to support his claims. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading In response to the allegations, Mchunu argued in a letter dated December 2024 to National Police Commissioner Gen Fannie Masemola that the unit had "outlived its usefulness." Following the revelations, President Cyril Ramaphosa placed Mchunu on special leave and established a Judicial Commission of Inquiry to investigate the allegations. Professor Firoz Cachalia has since been appointed as acting Police Minister. The Justice, Crime Prevention and Security (JCPS) Cluster confirmed that Mkhwanazi is awaiting formal approval from the office of the National Commissioner General Fannie Masemola to have the donated funds transferred to SAPSET. 'The Office of the KwaZulu-Natal Provincial Commissioner, Lieutenant General Nhlanhla Mkhwanazi, is awaiting approval from the Office of the National Commissioner to allow donated BackaBuddy funds, raised through a donation campaign by prominent X app accounts, to be deposited into the South African Police Service Education Trust (SAPSET) account, as per the directive of the Provincial Commissioner,' the JCPS Cluster said in a statement. Once approved, the funds will be used to support the educational needs of children of police officers who died in the line of duty. 'Lieutenant General Mkhwanazi extends his sincere gratitude to everyone for their generous support and contributions,' the statement continued SAPS national spokesperson Brig Athlenda Mathe confirmed the same. 'Once the approval has been granted, the money will be used to pay for fees, books and uniforms of children whose mothers and fathers died on duty,' Mathe wrote on X (formerly Twitter). The SAPSET, which was established in 2010 has assisted more than 1,000 bereaved children with their education.
Business Recorder
05-06-2025
- Business
- Business Recorder
Gold prices: no change
KARACHI: Local gold and silver prices remained unchanged on Wednesday, mirroring stability in the international bullion markets, traders said. According to the All Pakistan Sarafa Gems and Jewellers Association, gold prices in the domestic market held firm at Rs354,100 per tola and Rs303,583 per 10 grams. International gold prices also showed no movement, staying steady at $3,357 per ounce. Similarly, silver prices in the local market recorded no change, with rates standing at Rs3,586 per tola and Rs3,074 per 10 grams. However, on the global front silver remained flat at over $34 per ounce. Copyright Business Recorder, 2025
The South African
14-05-2025
- Business
- The South African
Warren Hammond's Personal View: Gold to hit R91 935 - The case remains intact
On 8 March 2021, with gold trading at $ 1,690/oz (R31,074), I recommended investors buy and accumulate the metal. Readers can refer back to my posts on that date, and since then, to familiarise themselves with what has become a long-standing and personally defining recommendation. A thoughtful question was recently asked of me by a Middle East–based institutional private credit fund manager: 'Could a slew of trade agreements trigger a sharp pullback in the gold price?' While I acknowledge the potential for short-term price fluctuations, I remain confident that the structural drivers supporting gold's long-term ascent remain firmly intact. Since that original recommendation, gold has moved materially higher. The $3,000 (R55,161) price target reached in early 2025 was upgraded to $5,000 (R91,935) on 26 February 2025, with a 12-month horizon. Do I expect volatility? Certainly, a 5 – 8% correction is part of any healthy trend. But I do not anticipate a crash, even amid trade accords. The Broader Macro Context To fully appreciate this view, one must consider the broader macro framework. In January 2016, I published 'The USA – Major Themes 2015–2033', arguing that this period would echo the historic transformation of 1895–1913, a time of seismic shifts in industry, finance, geopolitics, and technology. Consider the parallels: Trade Protectionism – McKinley's 1897 tariffs vs. today's US-China duties Energy Transition – Coal and electrification then, renewables and EVS now Tech Disruption – Model T, plastics, and radio vs. AI, quantum, and robotics Immigration Shifts – Labour realignment then and now Financial Reset – The Panic of 1907 led to the Fed; today's system is again overstretched Isolationism – Then and now, a pullback from global integration In both eras, gold plays a stabilising role, not speculative, but a pillar of trust and monetary credibility. Today: Central banks (Asia & Middle East) are stockpiling gold De-dollarisation is accelerating Supply constraints tighten the market (fewer discoveries, higher costs, underinvestment) Geopolitical fragmentation boosts demand for a neutral store of value Trade breakthroughs may soften headlines, but they don't cure structural excess, fiscal fragility, or currency erosion. They reconfigure, not resolve. Why Gold Remains Essential Gold remains essential: a portfolio cornerstone, and a hedge, not just against inflation or conflict, but against systemic dysfunction, volatility, and monetary decline. That's why my forecast stands: $5,000 (R91,935) within 12 months (from 26 Feb 2025). This isn't merely a price call – it's a thesis shaped since March 2021, rooted in macro history, geopolitics, and structural insight. The path to $ 5,000 (R91,935) is open. Who's positioned for it? What's your take on gold's trajectory? Do you see $ 5,000 (R91,935) as realistic or too ambitious? Share your thoughts in the comments below! Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
